Poland’s disadvantage of a 3-letter word


US stock index futures extended losses in post-market trading late Monday after President Trump announced a completely new round of tariffs on about $200 billion property value Chinese imports.

Trump said he will impose 10% US tariffs on about $200 billion importance of Chinese imports but he spared smart watches from Apple and Fitbit.

S&P 500 e-mini futures were down 0.3% in trading for the overnight session.

Trump also warned if China takes retaliatory action against US farmers and industries, the administration will pursue tariffs on about $267 billion of additional imports.

Earlier, US stocks closed lower on Monday, led by declines in technology and consumer discretionary stocks well before President Donald Trump’s announcement regarding tariffs on $200 billion of Chinese imports.

“Although this was expected and that we sold prior to a close, one would think the market industry really should be down more,” said Michael O’Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut.

“It’s with the point, the bigger these tariffs become, the greater the problem they become for any administration additionally, the United states of america. It ups the ante inside of a significant way, as much as you’re noticed that you cut some muscle. Consumers begins feeling it.”

Earlier, China vowed it will not play defense inside the escalating trade dispute, adding further fuel to tensions like a new selection of items be subject to tariffs, including technology and consumer goods, was anticipated from Washington.

“This can be a sixth or seventh time we mentioned this particular round of tariffs,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Given that Trump is comfortable raising tariffs, he believes he’s winning.”

Consumer discretionary and technology were the largest percentage losers around the S&P 500 index within the regular session, falling 1.3% and 1.4%, respectively.

Amazon.com led consumer discretionary stocks lower, falling 3.2%.

Apple Inc has stated the moves could hit a “wide range” of products. The iPhone maker’s shares were down 2.7%, offering the biggest drag on the Dow, despite earlier reports which the U . s . would spare a few of its products in the latest round of tariff actions.

All from the so-called FAANG list of momentum stocks closed down between 1.0% about three.9%. Other FAANG stocks include Netflix, Facebook and Google-parent Alphabet.

“(The FAANG stocks have) had great runs; the fact they’d seem a small amount really doesn’t detract through the idea that they’ve put in place some very good performance numbers this coming year,” Nolte said. But he noted “investors might be slowly looking beyond tech for an additional opportunity.”

The Dow Jones Industrial Average fell 92.55 points, or 0.35%, to 26 062.12, the S&P 500 lost 16.18 points, or 0.56%, to 2 888.8 as well as Nasdaq Composite dropped 114.25 points, or 1.43%, to 7 895.79.

All three major US indexes were lower, with all the tech-heavy Nasdaq posting its biggest%age loss since late July.

The S&P 500’s slide was concentrated. In the 11 major sectors inside index, only four ended the session in negative territory.

The CBOE Volatility index, a gauge of investor anxiety, rose 1.54 points, its first boost in six sessions.

Retailers, including Macy’s Inc and Kohls Corp , dropped, helping pull the S&P 500 retailers index 2.1% lower.

Twitter fell 4.2%, the most important percentage loser from the S&P 500 technology index, after brokerage MoffettNathanson flagged concerns over rising expenses.

Declining issues outnumbered advancing ones on the NYSE by way of a 1.46-to-1 ratio; on Nasdaq, a 2.12-to-1 ratio favored decliners.

The S&P 500 posted 34 new 52-week highs and three new lows; the Nasdaq Composite recorded 51 new highs and 90 new lows.

Volume upon us exchanges was 6.21 billion shares, compared with the 6.14 billion average during the last 20 trading days.